Prospera Centre is set to be renamed the Chilliwack Coliseum

Prospera Centre is set to be renamed the Chilliwack Coliseum as part of a new five-year agreement between the Chiefs Development Group and City of Chilliwack.

City council voted for the name change as part of a late additional item added to the Sept. 3 council agenda.

It was also announced that city officials are entering into a “sponsorship agreement” with the Chiefs Development Group (CDG) for the Prospera Centre building on Hodgins Avenue.

City approved the agreement in the amount of $416,585, and $301,000 will be applied as an early payment as part of the $1.1 million portion for 2021, to be allocated for capital costs on the building.

“It’s been a pleasure working with Barry Douglas and Mr. (Brian) Maloney there,” said Mayor Ken Popove, said referring to the Chiefs’ president of business operations, and president of hockey operations for the Chiefs, who were in attendance in chambers at the Tuesday evening portion of the council meeting. “You are a class act.”

Mayor Popove said he looks forward to the new partnership.

“I think we are going to do great things together,” he told the Chiefs officials.

Coun. Harv Westeringh commented: “great organization, great personnel” and said he was very happy to have the Chilliwack Coliseum name back in town.

Coun. Jason Lum said “it was inevitable” and whatever “magic” was used to get the “good ol’” Coliseum name back sits well with him.

“Working with the Chiefs has been fantastic,” Lum said, adding he knew the building would be coming back to the city, and that it was going to come back as the Coliseum.

Prospera Credit Union notified CDG of its intentions to cease sponsorship of the building in February, and city officials began talking about rebranding the building before making the change in ownership.

“The building requires a new name and CDG has requested that the building be renamed the ‘Chilliwack Coliseum,’” the staff report states.

The new sponsorship deal could be in place until the ownership of the building reverts back to City of Chilliwack from the Chiefs Development Group (CDG).

That provision was included in the 25-year public-private partnership (P3) agreement for Prospera Centre was originally entered into by City of Chilliwack and Chiefs Development Group in 2003.

The agreement specified that the ownership of the building on Hodgins Road would revert back to the city once the mortgage and five $1.1 million payments were made. The city has been buying back the mortgage by making annual payments to the bank.

“Though the city will have acquired the mortgage in 2020, the City doesn’t acquire the building until the end of the 25-year term.”

The sponsorship deal would see the City of Chilliwack covering: the costs of new signage, snow removal from parking lots, landscaping, horticulture, tree maintenance, grass cutting, parking lot line painting and painting the exterior of the building. Also listed was an electronic reader board sign. The responsibility for some of those costs was previously undertaken by CDG.

“This sponsorship would continue until ownership of the building reverts back to City of Chilliwack possibly in six years,” the staff report continued.